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Maravai Q4 2024 Earnings Report
Estimated Revenue:$60M
-8.5% YoY
Estimated EPS:-$0.04
1268.8% YoY
Key Takeaways
Maravai LifeSciences announced the postponement of its Q4 and full year 2024 earnings release and conference call, originally scheduled for February 25, 2025. The delay is attributed to additional time needed for the year-end financial close process, including an assessment of a potential non-cash impairment charge related to goodwill, an identified revenue recognition error of approximately $3.9 million, and an assessment of the effectiveness of disclosure controls and internal controls over financial reporting.
Maravai LifeSciences postponed its Q4 and full year 2024 earnings release and conference call.
The delay is due to additional time needed for the year-end financial close process.
A potential non-cash impairment charge related to goodwill from the Alphazyme LLC acquisition is being assessed.
A revenue recognition error of approximately $3.9 million was identified, though it is not expected to impact full-year 2024 revenue guidance.
Maravai
Maravai
Forward Guidance
Maravai expects its full-year 2024 revenue to be near the mid-point of the previously announced guidance range of $255.0 million and $265.0 million.
Positive Outlook
- Full-year 2024 revenue is still expected to be within the previously announced guidance range.
Challenges Ahead
- Postponement of earnings release and conference call.
- Delay in filing the 2024 Form 10-K.
- Need for additional time to assess a potential non-cash impairment charge related to goodwill.
- Identification of a revenue recognition error.
- Need for additional time to assess effectiveness of disclosure controls and internal controls over financial reporting, including remediation of a material weakness.
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Key Statistics
Market Cap
$350M
P/E Ratio
-2.55
Sector
Health Technology
Industry
Biotechnology
52-Week High
$9.21
52-Week Low
$1.7